Oscar offers health coverage through ObamaCare in six states, and seeks to make the system smarter through innovations like having a "concierge" team, including a nurse, that helps enrollees with tasks like finding the right doctor.

Alphabet plans to invest $375 million (roughly Rs. 2,600 crores) in Oscar Health, helping it expand to more markets and business segments, including Medicare Advantage in 2020, the health insurancestartup said on Tuesday.

Oscar is one of several startup insurers that hoped to capitalize on the Affordable Care Act and the millions of Americans flooding the individual health insurance market.

"What's interesting to note is Oscar is not just innovating insurance, they also have projects where they're building clinics, electronic health records, and claims systems", noted Jodi Hubler, a managing director with Wayzata, Minnesota-based Lemhi Ventures. And while the new round maintains a similar valuation for the company, it gives Alphabet a 10% share in Oscar.

The goal is to be a more consumer-friendly insurance option by integrating technology.

FDA approves 'Natural Cycles' birth control app
Even though Natural Cycles claims to be an effective contraceptive, it's not 100 percent fool-proof when used by itself. FDA approved the Natural Cycles app through the de novo premarket review pathway for new low- to moderate-risk devices.

"It's fantastic for us because it will really allow us to focus fully on the core model we've been building for the past 6 years, which is: use technology, use data, use design, use a human approach to build a very different health care experience", Oscar CEO Mario Schlosser told Wired.

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